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Tyco International completes move of global headquarters to Ireland

NEW YORK, N.Y. – Tyco International has completed moving its global headquarters to Ireland from Switzerland.

The fire protection and security company announced in May that its board approved the proposed move. Tyco CEO George Oliver said in a statement at the time that Ireland’s business-friendly atmosphere and well established legal and regulatory framework and corporate governance standards provided Tyco with the most favourable conditions for maximizing returns for shareholders over the long term.

Tyco said Monday that its new global headquarters is located in Cork. That’s the same site as its global business services centre, which was announced in January.

The company anticipates hiring about 600 employees in Cork over the next three years. That would bring its total employee headcount in Ireland to approximately 700.

Shares of Tyco fell 6 cents to $42.33 in morning trading on the Nasdaq stock market.